Contractor secures 拢800m new contracts and expects profit rise in 2007
Contractor Morgan Sindall has announced it is trading in line with expectations in its trading update today.
The group鈥檚 preliminary results will be released in February 2007 and it predicts a year of growth and buoyancy.
Construction revenue and profit for 2006 are expected to modestly increase compared to results this time last year. The company will continue to focus on the health, education, light industrial and commercial sectors.
The group has secured 拢800m of new contracts across the infrastructure, utilities, tunnelling and rail sectors which should see a rise in profit throughout 2007.
The company has also had a successful year with its Affordable Housing and Fit Out鈥檚 markets.
Overall, Morgan Sindall鈥檚 forward order book stands at 拢3.4bn, a 22% increase since the beginning of the year. Although the group鈥檚 average cash balances will be down on last year鈥檚, this is due to a 拢23m acquisition in March of the non-track rail business.
